Legends in Talks for $1.85 Billion Private Credit Deal for ASM
- Sport events company looking for $1.85 billion debt package
- Financing led by Ares and KKR, and includes Apollo, Oaktree
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Sixth Street Partners-backed Legends Hospitality is in talks with a group of private credit firms led by Ares Management Corp. and KKR & Co. to finance its potential acquisition of venue and events management company ASM Global, according to people with knowledge of the matter.
The lender group, which also includes Apollo Global Management Inc. and Oaktree Capital Management, is in discussions to provide a $1.85 billion financing package that would help pay for the takeover and refinance existing debt at Legends and ASM, said the people, who asked not to be named because they’re not authorized to speak publicly. Ares is administrative agent on the transaction, the people said.